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PLEASE SOLVE ALL PARTS FOR THUMBS UP!!! Ater looking into debt financing through notes, mortgage, and bonds payable, Tree Top Company decides to raise additional
PLEASE SOLVE ALL PARTS FOR THUMBS UP!!!
Ater looking into debt financing through notes, mortgage, and bonds payable, Tree Top Company decides to raise additional capital for a planned business expansion. The company will be able to acquire cash as well as land adjacent to its current business location, Before the following transactions, the balance in Common Stock on January 1,2027 was $100,000 and included 100.000 shares of common stock issued and outstanding. (There was no Paid-In Capital in Excess of Par-Common.) Tree Top Company had the following transactions in 2027: (Click the ican to view the transactions.) Requirement 1. Journalize the transactions. (Record debits first, then credits. Select the explanation on the tast line of the journal entry table.) Jan. 1: 1ssued 60,000 shares of $1 par value common stock for a total of $720,000. Dec. 15: Declared total cash dividends of $6,000. Dec. 20: Declared a 5% common stock dividend when the market value of the stock was $14.00 per share. After looking into debt financing through notes, mortgage, and bonds payable, Tree Top Company decides to raise additional capital for a planned business expansion. The company will be able to acquire cash as well as land adjacent to its current business location. Before the following transactions, the balance in Common Stock on January 1, 2027 was $100,000 and included 100,000 shares of common stock issued and outstanding. (There was no Paid-In Capital in Excess of Par-Common.) Tree Top Company had the following transactions in 2027: (Click the icon to view the transactions.) Read the reguirements. Dec: 20: Declared a 5% common stock dividend when the market value of the stock was $14.00 per share. Dec. 31: Paid the cash dividends. Dec. 31: Distributed the stock dividend. Dec. 31: Distributed the stock dividend. Requirement 2. Calculate the balance in Retained Earnings on December 31, 2027. Assume the balance on January 1, 2027 was $6,000 and net income for the year was \$436, 000. Complete the table below to calculate the balance in Retained Eamings on December 31, 2027. Requirement 2. Calculate the balance in Retained Earnings on December 31, 2027. Assume the balance on January 1, 2027 was $6,000 and net income for the year was $436,000. Complete the table below to calculate the balance in Retained Eamings on December 31, 2027. Rin PI Lt Fis Requirement 3. Prepare the stockholders' equity section of the balance sheet as of December 31.2027. There was no preferred stock issued prior to the 2027 transactions. Review the journal antries from Requirement 1. Requirement 3. Prepare the stockholders' equity section of the balance sheet as of December 31,2027 . There was no preferred stock issued prior to the 2027 transactions. Reviow the journal entries from Requirement 1 . Requirements 1. Journalize the transactions. 2. Calculate the balance in Retained Earnings on December 31, 2027. Assume the balance on January 1,2027 was $6,000 and net income for the year was $436,000. 3. Prepare the stockholders' equity section of the balance sheet as of December 31,2027 . There was no preferred stock issued prior to the 2027 transactions Step by Step Solution
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